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. >> it's timed with the country hitting the fiscal cliff, $500 billion of tax increases and spending cuts. scheduled to take effect in january. ill led to the super committee to create work out cuts of $1.# trillion. on defense, 9.4% cut for every program across the board regardless of merit. in 2013 trimming $3.9 billion from defense operation and maintenance. air force and navy would be cut by $4.2 billion. afghan security forces chopped by $1.3 billion. and embassy money and consulate would lose $1.2 billion. asked about the spending cut deal, the top democrats suggested they're finished. >> that is part of a big bold and balanced package that has big cuts. we voted for $1 trillion in cuts. revenues are needed and job creation is essential to reduce deficit. >> today, pelosi clarified she was not referring to the sequester. unless there is action in a hurry, there is a risk national security could be affected in what is a takous world. >> i'm worried because the only part of the federal government that obama administration appears to be willing to cut is the defense department. >> educ
not the first time they've ignored those bands. washington, the potential fiscal cliff is expected to bring tax hikes and spending cuts it all americans, and what is really at stake when it comes to your home? and we're going to take a look at what could happen if lawmakers and the white house don't reach an agreement very soon. >> kelly: indeed, we will. plus, a man counting his blessings after coming face-to-face with a shark. . >> you know, you've got to look at this at like the emt told me on the way here, you could have had this or struck by lightning and the odds are about the same. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold, and i took nyquil, but i'm still "stubbed" up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] it doesn't have a decongestant. no way. [ male announcer ] sorry. alka-seltzer plus fights your worst cold symptoms plus has a fast acting decongestant to relieve your stuffy nose. [ sighs ] thanks! [ malennouncer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh wha
proposal. but that's just one part of the fiscal cliff debate. the other side of this, the massive spending cuts that have now educators ringing the alarm. they warn of increased class sizes, the elimination of after-school and summer school programs, libraries could close, all this as the u.s. tries to close an achievement gap. joining me now to continue our education nation conversation, world-renowned educator dr. steve perry, also host of tv one's "save my son." steve, it's great to have you here. the secretary of education, arne duncan, has said that 9 million students would be affected by the cuts including nearly 2 million that are already living in this country in poverty. when we talk about special education needs for the kids of our country, we're essentially about to take away resources from the students that need it most. however, we're not talking enough about that. >> one of the reasons why there's even a conversation about cuts is not so much because there's less money coming in, it's because of so much money going out. where we spend the most amount of money in education is
is the federal government spending under control. we continue to get closer to this incredible fiscal cliff and i think that the president should take a case study analysis and look at what president coolidge did and jfk, john f. kennedy when they went in and lowered tax rates and increased revenues, which is exactly what we're talking about. >> so either you've got a president who is tremendously overconfident after being reelected or someone who asks for the sty in the first offer knowing that he will look like the compromising once he gives in on the demands and gets himself involved in negotiations. >> both sides are waiting to see who is going to offer up the plan first, we're waiting on the white house. >> it's the president's job, isn't it? congress controls the purse strings and the white house is waiting for-- we're waiting for something from congress on their side and go back and forth, who puts up the offer first and it's the first salvo, so, michigan mcconnell laughs at it and timothy geithner hands it to them. this isn't real. >> i didn't know that first was the first offer. we have
may hang in the balance as the nation gets closer to a fiscal cliff. democrats and republicans have one month to come up with a plan to stop the across the board tax hikes and the major federal spending cuts from taking effect. i'm gregg jarrett. >> heather: i'm heather childers. some of the early optimism for a deal seems to be fading. steve is live in washington with more. >> reporter: one month away from that so-called fiscal cliff. there appears to be very little movement toward any kind of deal. president obama is using the bully-pulpit to appeal to the american people to push for immediate action to push the tax cuts for everybody except for those earning more than $250,000 a year. in his saturday address, he stressed the urgency of the situation. >> if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a typical middle-class family of four will see income taxes rise by $2200. we can't let that happen. a families can't afford it and neither can our economy. >> reporter: republicans led by house speaker john boehne
of the fiscal cliff. let me take a look at that. >> no real reform. instead spending taxes. we neat bipartisan ideas we can all support. >> dana, is any of that going to make a difference or maybe a broader point is how much are outside groups generally, whether it's on the hill or on tv influencing this debate? >> if it works as well as karl rove's effort during the campaign, i think the president is going to ask him to run more of those ads because it didn't work out so well for him the last time. this is a little different from a political campaign in that spending by interest groups is probably not going to be big enough to crowd out all of this noise that's being made here. i think that interview you just had with tom price was extraordinary for what he didn't say. he didn't say i won't allow taxes to increase. he said it depends on what the overall package is. that's an extraordinary admission is for one of the most conservative congressmen in the house and i think it shows where these guys are headed. >> when you look at the polls and you see how the messaging is working, susan, and to
of this is that some people are trying to downplay the affects of the fiscal cliff saying if we go over for a few days it will be okay. ceos aren't saying that. you look at third quarter gdp, companies are spending less money on software and equipment because they don't know what's going to happen. the effects of the fiscal cliff are already holding back some things. >> of course. what stood out to me from howard schultz, the people that need it the most, the average american will feel this to the core. confidence is the corner stone. >> it makes you make decisions, big decisions, small decisions. i'm not going to buy that or do that, i'm scared to death. here's my question for the two of you. are more big ceos falling in line with the yes, let's raise the taxes on the 2%? >> if i don't know if a majority. would you say a majority? >> i think they want a deal and people have to make -- it's hard to make compromises. >> we've heard it from goldman sac sachs, warren buffett, schultz. >> big names there. >> they want clarity. the interesting thing to me, the stock market and bond market haven't freaked o
left to make a deal before the country hits what's called the fiscal cliff. that's a combination of across the board tax increases for everyone, coupled with cuts in spending like defense, education, health care, and housing assistance. let's go live to our chief white house correspondent jessica yellin with the very latest. jessica? >> reporter: president obama has now personally turned down speaker boehner's opening offer to avert the fiscal cliff. he did it in a tv interview. what does president obama think of speaker boehner's proposal to avert the fiscal cliff? >> unfortunately, the speaker's proposal right now is still out of balance. he talks about $800 billion worth of revenues but says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> reporter: he won't agree to eliminate a tax deduction for contributions to charity. >> every hospital and university and nonfor profit agency across the country would find themselves on the verge of collapse. so that's not a realistic option. >> reporter: but the president didn't say all this to speaker
Search Results 0 to 9 of about 10 (some duplicates have been removed)